BHUB — Finance RSS



Cutting Costs

Hey Everyone!  I feel like I've been holding out forever on this great post. Cutting costs is one of the easiest ways to ensure your business runs smoothly. It'll squeeze you to work within your means, teach you to respect the profit you make and the value of the dollar, and be able to help ease those hard times of e-commerce.  Let's dive in:  1.) SHIPPING *  Find cheaper rates.  If you are going in person, or even using a generic platform, you're throwing money away. Platforms like Paypal & Shipstation will give you deep discounts.  *Combine shipping if possible If you have a high volume store with an abundance of repeat customers, offer a small refund for combining their...

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The cost of doing business

Do you know your operational costs?    Odds are you just answered, "What?"  Let's just break this down simply. If you don't know every single penny spent on your business per month, you are essentially already out of business.   Don't worry! Let's just work this out and get you back on track. Ready? This is the part that sucks. Like- really sucks!  You need to list out every single expense for your business. Just when you think you're done, go and do it again. There is always something you are forgetting. Think about annual costs (domains, website hosting fees, software, etc)  Don't worry! We will wait.  Once this part is over, life gets better.  A lot of what you're doing...

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Capital Loans

Needing a hand financial is a pretty common small business issue. If you’re like most Americans, 2008 hit your credit harder than ever and most banks aren’t eager to hand over a traditional “small business loan”, despite your businesses success. No worries- Most e-commerce platforms now offer their own lending called a “Capital Loan”. Don’t let this scare you. We are going to thoroughly weigh 2 options below and get you geared up and informed, ready to grow your business. I’ve got you! The only two capital loans we at BHUB consider logically choices would be Paypal Working Capital and Shopify Capital Loan. We will run through each one of them (which is similarly structured) and help you weigh your...

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Margins

Okay- Here’s your first, last and only chance to turn back. This isn’t going to be fun. It’s like having to turn yourself in. It’s time to face the truth about your business, expenses & prices. It’s gonna hurt. It’ll feel like standing in front of the poorly lit mirror in a Ross Dress For Less fitting room. OUCH! Shed those clothes and let’s dive in! Knowing your margins means that you know you’re making a profit, you are priced well, and how deep of a discount you can offer before it hurts your bottom line. If you don’t know this information, you’re essentially running a business in the dark- no electricity- pre B.Frank!     Let’s just get to...

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